Day Three! This step is PART A of FINDING YOUR SWEET SPOT - between fulfilling your purpose, and creating a viable business for your clearly defined niche market.
This step is the *key* that will unlock your future business direction. Ramit Sethi is the brainchild behind this analysis. You can find out more at his Growth Lab.
Here is where you determine three things: Whether each idea has:
1) A large potential client base or a small potential client base.
2) A high price point or a low price point.
3) Possible with current level of education and expertise?
Go back to the list that you created yesterday of ALL your ideas.
If you missed the brainstorming session from Day Two, you can find it here:
Commit to following the step in order. It's so worth it!
Move through the following steps:
Eliminate all ideas that are not currently possible due to education level or expertise. Don’t panic! You can come back to these at any time. For the purpose of getting started with a viable business, start with offerings you can currently manage.
Beside each idea, categorize:
whether this idea would have a large client base or a small client base.
whether this idea would have a high price point, or a low price point.
ie: Running luxury nutritional healing retreats in Italy for female cancer survivors:
SMALL CLIENT BASE + HIGH PRICE POINT
ie: Teaching yin yoga & meditation workshops to corporate women in NYC:
LARGE CLIENT BASE + LOW PRICE POINT
ie: Naturopathic consultations for women in LA, wanting to lose 20 lbs:
LARGE CLIENT BASE + HIGH PRICE POINT
ie: Creating lectures on yoga philosophy for single mothers in Toronto:
SMALL CLIENT BASE + LOW PRICE POINT (THE PASSION PROJECT)
This is a big step! Accurately categorizing each idea will likely take research. Take your time here. This is the ideal spot to start looking up other people in each of your potential fields. What do they charge? Do they have a large following? Do they run a full-time business? Are they creating a means to funnel their gifts and offerings and skills into the world?
Check back tomorrow for PART B of FINDING YOUR SWEET SPOT!
And, mark your calendars for Thursday, June 8th at 2pm, EST for a free webinar on Finding Your Niche Clients!